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01 April 2011 BYAre you an Irish Woman In Business? IWIB is a new network dedicated to helping Irish women succeed through networking and mutual support. There are many benefits to membership. Read full story
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10 February 2011
This reminds me of watching RTE News in the run up to the last election, I recall watching Bertie Ahern campaigning in his Dublin constituency. He shook the hand of a supporter, saying, "I'll appreciate your vote, and please bring along a friend to vote for me too." It's a successfully proven concept: asking for referrals. Makes sense, doesn't it? Yet, how many of us do it as often as we should? I don't see too many arms going up out there.In the book, "How to Sell More in Less Time, With No Rejection, Using Common Sense Telephone Techniques, the author Art Sobczak, cites a study done by the Securities Industry Association showing that 86% of surveyed customers would refer their broker to their friends, yet only 12% had ever been ASKED.
Another study found that a referral is up to 15 times more likely to do business with you than a cold prospect. There are a variety of ways to use referral marketing and selling. For example, -Get a name from someone else and you contact them.
- Have someone else contact a prospect and let them know you will call.
- Have someone else refer prospects to you every time they encounter a person who could use what you sell.
- The Ideal: Have someone else contact a prospect and sell for you.
Also referred to as "word of mouth" marketing and selling, it's usually the least expensive and most productive form of lead and new business acquisition you can get.
I'll give you a few tips on how to get great referrals, but it struck me while writing this ... why not do my own referral experiment?
So that's what we'll do as part of this week's Tip. And you hopefully will participate. Here goes the first part of it. Will you please have three other people who also use the phone as part of their sales process and could benefit from these Tips sign up by next week?
So, practicing what I preach, I'm asking you to simply take a few moments to contact a few people you know, do them a favour, and suggest they sign up for these free Tips.
Remember! ASK THE RIGHT PEOPLE, AT THE RIGHT TIME
Ask The Right Way
Far too many reps say, "Do you know anyone else I could contact?" Instead, tie your request into the problem you just solved, the pain you eased, or the result you helped them achieve.
For example, "Pat, I'm glad you were able to cut down on wasted materials expense by using our system. By the way, who else do you know, who also is experiencing a similar problem, that might be able to also benefit from a system like this?" Now you're putting them in the position of HELPING a friend, instead of sending a salesperson after them.
Remind Them Of Possible Propects
If they're coming up empty, give suggestions, " ... someone in your trade group, country club, perhaps a similar business you don't compete with ...?
And who else do YOU know who could benefit from this email newsletter? How about the outside sales staff? Any other inside reps in your department, other departments or divisions? Customers? Vendors? Fellow members of your Association? Social friends who also happen to be in sales?
Use Reverse Referrals
Often you have highly-coveted prospects that you would love to soften up before contacting. Comb your customer base and ask them if they know the prospects, and if so, if they could help you. For example, "By the way, I've identified several members of your association as people we could likely help in much the same way we helped you. Would you happen to know Joe Jones at Dynamic Industries, or Karen Holden at Superior Supply?"I did this recently with a large Irish bank and it enabled me to have a much warmer initial meeting with a Director that yielded a positive result.
Get More Referral
If you run across a start-up company while prospecting, ask your contact for someone to talk to at their previous employer. Often, start-ups are spawned from larger companies, companies that are in similar businesses, buying like-items.
Ask your best customer if she would mind drafting a testimonial letter singing your praises, mentioning how your company helped her, and how she highly recommends they also work with you. Does it work? Like a charm, every day for those with the desire and big-mindedness to try. Return to News list
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Irish Women in Business is a professional body, representing all women working in business. The aim of IWIB is to unite women and allow them to share resources, information and ideas. IWIB provides a safe environment for members to receive advice on finance, the economy, the internet and marketing.
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